Palm’s big announcement may be set for Jan. 8, but the device maker isn’t waiting until then to lift the covers off other developments it has been working on. While its new operating system is what people are waiting to see, the company is launching an on-device application store, like Apple’s App store, Google’s Android Market, and the upcoming BlackBerry Application Center. Palm (NSDQ: PALM) has a long history of working with developers, so this is less of a leap for the company than it might be for some others. Applications will be available to Palm users on the phone.

Mobile Crunch cleverly writes that “with “App Store,” “Market,” and “Application Center” all spoken for, Palm’s going with “Software Store.” Microsoft (NSDQ: MSFT) is taking a slightly different naming approach, and is expected to launch Skymarket this fall for its Windows Mobile platform.

In Palm’s case, it will be partnering with PocketGear, an application distributor, to get the store going. For its launch, 1,500 developers have already submitted applications to the Software Store, which will be available for both Windows Mobile and Palm OS devices. The developer-split is also a bit different than others. Google (NSDQ: GOOG) and Apple (NSDQ: AAPL) both give developers 70 percent of the cut (Apple keeps 30 percent and Google gives 30 percent to the carrier), and RIM (NSDQ: RIMM) plans to give developers a heftier 80 percent, while Palm is distributing 50 percent to developers, and the rest to all the parties involved. Users can download the store here.

UPDATE: I just got through talking with a Palm spokesperson, who wanted to clarify what is happening this week. He said the Palm storefront is not entirely new and has been around for years, but it did launch a new version that’s been updated with a new look and with new applications.